The initial find made last year by an Angus Energy-led venture in Upper Portland sandstone in licence PEDL 137 near Gatwick Airport had a gross in-place estimate of 3.1 million barrels that has since been increased to 8.2 million barrels.
However, the Horse Hill licences that cover a total area of 55 square miles (142 square kilometres) are now estimated to hold as much as 158 million barrels of oil in-place per square mile after reservoir analysis carried out by US-based Nutech in collaboration with partners Solo and UK Oil & Gas Investments (UKOG).
This
